Ampol lists 13-site portfolio over Qld, SA, WA, Vic and NSW through Cushman and Wakefield

More than a dozen parcels of land across five states, belonging to a national service station brand, have hit the market in a potential $20m play.

Service station giant Ampol has listed more than a dozen vacant sites across Australia for sale, in a portfolio offering that could nab upwards of $20m if fully realised.

National commercial agency Cushman and Wakefield are handling the campaign for Ampol, with the collection covering “blue chip” former servo sites across Queensland, NSW, Victoria, South Australia and Western Australia.

Industry insiders believe the mostly-regional land parcels, which adds up to 2.7ha in total, could sell for tens of millions of dollars.

The Queensland portion includes a 2100sq m parcel in the Toowoomba suburb of Kearneys Spring, a large block on the most central corner of the small western town of St George, and a 1700sq m site at Portsmith in Cairns.

A Toowoomba vacant site on Ruthven Street in Kearneys Spring, held by service station giant Ampol, is part of a 13-parcel portfolio sale with Cushman and Wakefield.

There are also three sites in and around Adelaide, four parcels in regional Victoria, two in Moore and Katanning in WA and Tumbarumba in NSW.

Queensland head of investment sales and agency national director Daniel Cullinane, who wouldn’t comment on the potential price, said almost all assets were cemented but unimproved, featured favourable zoning and were no longer required by Ampol.

“They’ve been existing sites and they’re basically now surplus to their needs, so they’re looking to essentially divest these assets and then reallocate the capital back into their existing operations,” he said.

“They’ve earmarked these out of their portfolio that they’re looking to move on.

“These sites could be childcare, QSR, retail, they could be a multitude of different things and I think if you look at the different locations, they’re all regional apart from the SA assets.”

Mr Cullinane said the Queensland sites were particularly exciting given their locations.

“They’re on the best corners in the CBDs of these towns – the one in Toowoomba is surrounded by KFC, Pizza Hut next door, Seven Springs Medical is there, the Toowoomba Plaza is across the road, and it’s going to have a big redevelopment,” he said.

“There’s a hell of a lot of stuff going on and even the one out at St George – St George needs fast food, I was out there not long ago, and I think something like that would be prime for a drive through or something, because it’s 3000m on the best corner of town.

“It just doesn’t come up so I expect we’re going to be run off our feet with these.”

Mr Cullinane said Ampol was open to sell them all to a single buyer or break them up, depending on demand.

“We could have someone that comes and buys the whole lot, whether it’s an occupier or development group or something like that or we could have local owner occupiers – that’s the opportunity,” he said.

“You’ve got such a broad end-use profile and I think there’s going to be a lot of people who have a look at it.”

Originally published as Ampol lists 13-site portfolio over Qld, SA, WA, Vic and NSW through Cushman and Wakefield